Chinese stocks traded in New York advanced for the first time in five days, with China Eastern Airlines Corp. leading gains, on prospects measures to boost consumer spending in Asia’s biggest economy will spur growth.
Acquity Group Ltd. became the second Chinese company in 2012 to raise less than planned in a U.S. share sale as a slowing economy and accounting concerns sent New York-traded stocks lower in the past year.
AstraZeneca Plc’s need to restock its drug pipeline and boost the lowest valuation in the pharmaceutical industry is turning companies from Amarin Corp. to Forest Laboratories Inc. into takeover candidates.
Bats Global Markets Inc., founded by a high-frequency trader and nurtured by the world’s top securities firms into the third-largest U.S. stock exchange operator, will seek more than $100 million for its owners today.
U.S. stocks fell, leaving the Standard & Poor’s 500 Index virtually unchanged in 2011 after one of the most volatile years in the market’s history, as concern about Europe’s debt crisis halted a two-year rally in equities. The euro weakened and Treasuries gained.